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Question
A bank has currency and coins equal to $20 million in its vaults. It has securities worth $10 million, has borrowings equal to $5 million, and has given out loans equal to $2 million. It also has deposits with the Federal Reserve equal to $4 million. The total reserves of the bank equalsa. $12 million.
b. $22 million.
c. $24 million.
d. $36 million.
Answer
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